oilbuy

oil Trading around 51.5 and Strongly holding 50.5 level
which is very strong support if hold above 50.5
we can see 54-55 this week.
Advice to buy oil in range of 51.55-50.4 sl below 49.8
TP1 53.5 TP2 55

Oil Strong hold its support of 43.5 and Formed Strong bullish candles and also Done fibo 100% now trading above 0.23 we are expecting it may touch 0.50-0.61%
Advice buy oil in range of 45.5-44.4 sl below 43.7 TP1 47.3 TP 49.5

Despite the title, I take this trade with 100% seriousness. Oil has been heavily oversold in the past days and despite bad fundamental aspects, it has to "rest" before selling off more. Today (11/3/2016) we saw a quite rare phenomenon where a candle opens outside the lower BB and holds. NEVER in the past 2 ...

PRICE CAME DOWN AND RETESTED THE MAJOR SUPPORT TREND LINE AND THE 0.618 (43.00) FIB LEVEL.
PRICE SHOULD BOUNCE BACK.
ENTER WITH A BUY STOP JUST BELOW THE 43.60 PRICE LEVEL.
STOP LOSS JUST BELOW THE 0.618 FIB LEVEL AND THE MAJOR SUPPORT TREND LINE.
PROFIT TARGET IS 46.70 PRICE LEVEL.
STOCHASTIC/RSI IS GOING BELOW ...